Cemex upbeat on Gresik deal

Cemex upbeat on Gresik deal

MONTERREY, Mexico (Dow Jones): Mexico-based cement giant Cemex
SA said Tuesday that its successful bid for Indonesia's PT Semen
Gresik is a "key piece" of its global diversification strategy.

Cemex also said in a press release that it is confident of the
long-term economic prospects of both state-owned PT Semen Gresik
and Indonesia.

As reported earlier, the Indonesian government said Cemex had
won the bidding to buy 14 percent of its stake in the cement
producer at a price equivalent to $1.38 per share.

Cemex also said it plans to buy a further 6 percent of Semen
Gresik on the Jakarta Stock Exchange.

The Indonesian government will retain a 51 percent stake in
the company following completion of the transaction.

Cemex chief executive officer Lorenzo Zambrano said in the
release that "the company maintains its confidence in the
perspectives of growth and prosperity in the long term in
Indonesia and continues seeing this country as an excellent
option for international investment."